RESIGNATION OF EARL DERBY.

Waikato Times, Volume XI, Issue 901, 2 April 1878, Page 2

RESIGNATION OF EARL DERBY.

isb, and French. There is a semipanic on foreign bonusses. . Colonial Government debentures are heavily depressed. New Zealand 5 cent. 101 LONDON March 31. All the troop ships are being prepared for sea. The first Lord of the Admiralty, m reply to a question, vaid the Queen's message, relative to calling out reserves, would he presented on Ai.r.l 1, and come on for discussion on the 4th. The Chancellor of the Exchequer said that, till the time arrived to take decided steps, the British Government, would consult Parliament as to the course to be taken under i the present aspect of affatrs. Sir Staford Northcote denied that the British Government had hindered arrangements for the meeting of Congress. It is desired only that j the treaty of peace should form the basis of discussion. " •The Journal do Petersburg' states that the balance of power m the Mediterranean is only threatened by the presence of the British Ironclad Squadron m the sea ot Marmora. It looks upon calling out the reserves as a fresh provocation, to Russia, who will be prepared to forceably defend the fruits of the war. Wool market resumed with a calmer appearance, and price 3 recovered the temporary relapse. Suez nittil per Horo. In the debate on the vote of credit, Mr Gladstone allowed that Russia must be curbed, and he opposed the cecession to her of the mouths of the Danube. In London enthusiastic meetings m favor of the Government, also at Sheffield, Leeds, and Manchester, upholding the £6,000,000 vote. On several occasions, the ' Times' and « Daily News ' were publicly burned. Many meetings, convened by the supporters of the Opposition, were, turned into enthusiastic demonstrations m favor of the Government. For several days, Lord Beaconsh'eld was received with tremendous ovations onreaching Parliament Houses, aud the excitement w.ts greater than anything since the Crimean War.

LORD S \LISBURY SUCCEEDS EAttL DERBY.

PANIC ON STOOKEXCHAtfGE. Lord Derby, Minister for Foreign Affairs, has resigned. At a special cabinet meetiagheld to day, to consider the Russian reply to BL-itish dt-niands, Sir Staf, tord Northcote stated m the House of Commons that the Russian reply had been received yesterday. It adhered substantially to previous declarations, to the effect that ihe Signatory Powers rany raise such objections as they think fit, but Russia reserved full liberty either ro accept or decline discussion. He also added that this virtually closed all further diplomatic correspondence on the subject. March 28. Lard Beaconsfield explained m the House of Lords that Earl Derby's resignation was m consequence of j the warlike attitude which would become necessary to assume. He also expressed a hopt that now all probabilities of the assembling 1 Congress had ceased, an:l that they WQul'd be able to maintain the balance of poyer m the Mediterranean ; an 4 that the advice tended by the Government to the Queen to call out all available reserves he thoroughly approved of. March 29. Lord Salisbury succeeds Lord Derby. The Government policy is not aggressive; but to prepare for war, m the hope for peace. The » pposition was expected to resist the calling out of the reserves. The ascendency of the Premier m the Cabinet has caused a check. Q-eneraj Ignatieff, at Venna, and Count A.ndrassi»y aj;<? attempting 1 to reconcile England and Russia. The Bank of England has raised the official minimum to 3 per cent. There is a panic on stock exchange owing to political outlook. Consols are extremely depressed, 9U. WmO®, 3£arch 20. The * Standard ' says that Russia has addressed a note to the Porte demanding the withdrawal of the British fleet from the Sea of Marmora. England has refused while the Russians ax*** wiij^in ihe environs of Stamboul. " ' '"'• - Orders have been received atj Portsmouth to have troop ships ready to embark the army corps m case of emergency. jlq. the late semi-panic the following stocks "suffered mo§t severely : ! Russian, Bulgarian, Italian, tuvk-